V.B.M.: what changed
What changed
V.B.M.
NACE 49.410, Freight transport by road
filed annual accounts (NBB)
Net result for the year
-€491,103
2024 · €103,893-€594,996
Equity
-€376,063
2024 · €116,673-€492,736
Cash
€97,484
2024 · €122,707-€25,223
Balance sheet total
€599,835
2024 · €897,757-€297,922
Largest movements
Assets
- Receivables within one year -€153,169
down €153,169 (-74.6%), from €205,393 to €52,224
of which Trade receivables: -€149,874
- Tangible fixed assets -€86,730
down €86,730 (-16.4%), from €528,844 to €442,114
of which Leasing and similar rights: -€172,625
- Cash -€25,223
down €25,223 (-20.6%), from €122,707 to €97,484
mainly Net result for the year (-€491,103) and Investment in fixed assets (net) (-€62,524)
- Deferred charges and accrued income -€20,776
down €20,776 (-84.0%), from €24,729 to €3,953
Equity and liabilities
- Profit (loss) carried forward -€491,103
down €491,103 (-95.3%), from -€515,246 to -€1.0m
- Debts after one year +€158,856
up €158,856 (+29.8%), from €533,512 to €692,368
of which Other amounts payable: +€220,003
- Trade debts +€95,313
up €95,313 (+533%), from €17,886 to €113,199
- Tax, wage and social debts -€27,016
down €27,016 (-19.9%), from €135,663 to €108,647
of which Remuneration and social security: -€25,871
- Current portion of long-term debt -€17,789
down €17,789 (-23.6%), from €75,473 to €57,684
Income statement
- Turnover -€794,485
down €794,485 (-35.5%), from €2.2m to €1.4m
- Services and other goods -€492,365
down €492,365 (-48.1%), from €1.0m to €531,364
- Staff costs -€301,831
down €301,831 (-21.1%), from €1.4m to €1.1m
- Provisions +€138,632
up €138,632 (+91.1%), from -€152,181 to -€13,549
- Write-downs +€109,789
new in 2025: €109,789
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€103,893
Turnover
-€794,485
Other operating income
-€4,678
Goods and materials
+€8,974
Services and other goods
+€492,365
Staff costs
+€301,831
Depreciation
-€9,009
Write-downs
-€109,789
Provisions
-€138,632
Other operating charges
-€14,433
Other operating items
-€324,115
Financial income
+€1,004
Financial charges
-€4,005
Taxes
-€24
Result 2025
-€491,103
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
-€102,133
Investment
-€62,524
Financing
+€139,434
Cash 2024
€122,707
From operations (derived)
-€102,133
Net result for the year
-€491,103
Depreciation
+€155,778
Stocks and contracts
+€5,500
Receivables within one year
+€153,169
Deferred charges and accrued income
+€20,776
Provisions
-€13,550
Trade debts
+€95,313
Tax, wage and social debts
-€27,016
Accrued charges and deferred income
-€1,000
Investment (derived)
-€62,524
Investment in fixed assets (net)
-€62,524
Financing
+€139,434
Debts after one year
+€158,856
Current portion of long-term debt
-€17,789
Contributions, distributions and other
-€1,633
Cash 2025
€97,484
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €897,757 | €599,835 | -€297,922 | -33.2% |
| Fixed assets | 21/28 | €537,428 | €444,174 | -€93,254 | -17.4% |
| Tangible fixed assets | 22/27 | €528,844 | €442,114 | -€86,730 | -16.4% |
| Plant, machinery and equipment | 23 | €81,271 | €106,239 | +€24,968 | +30.7% |
| Furniture and vehicles | 24 | €14,245 | €91,088 | +€76,843 | +539% |
| Leasing and similar rights | 25 | €315,818 | €143,193 | -€172,625 | -54.7% |
| Other tangible fixed assets | 26 | €117,510 | €101,594 | -€15,916 | -13.5% |
| Financial fixed assets | 28 | €8,584 | €2,060 | -€6,524 | -76.0% |
| Affiliated companies | 280/1 | €4,651 | - | -€4,651 | |
| Participating interests | 280 | €4,651 | - | -€4,651 | |
| Other financial fixed assets | 284/8 | €3,933 | €2,060 | -€1,873 | -47.6% |
| Amounts receivable and cash guarantees | 285/8 | €3,933 | €2,060 | -€1,873 | -47.6% |
| Current assets | 29/58 | €360,329 | €155,661 | -€204,668 | -56.8% |
| Stocks and contracts in progress | 3 | €7,500 | €2,000 | -€5,500 | -73.3% |
| Stocks | 30/36 | €7,500 | €2,000 | -€5,500 | -73.3% |
| Goods purchased for resale | 34 | €7,500 | €2,000 | -€5,500 | -73.3% |
| Amounts receivable within one year | 40/41 | €205,393 | €52,224 | -€153,169 | -74.6% |
| Trade receivables | 40 | €200,431 | €50,557 | -€149,874 | -74.8% |
| Other amounts receivable | 41 | €4,962 | €1,667 | -€3,295 | -66.4% |
| Cash at bank and in hand | 54/58 | €122,707 | €97,484 | -€25,223 | -20.6% |
| Deferred charges and accrued income | 490/1 | €24,729 | €3,953 | -€20,776 | -84.0% |
| Total equity and liabilities | 10/49 | €897,757 | €599,835 | -€297,922 | -33.2% |
| Equity | 10/15 | €116,673 | -€376,063 | -€492,736 | |
| Contributions | 10/11 | €218,173 | €218,173 | = | 0.0% |
| Capital | 10 | €218,173 | €218,173 | = | 0.0% |
| Issued capital | 100 | €218,173 | €218,173 | = | 0.0% |
| Reserves | 13 | €405,177 | €405,177 | = | 0.0% |
| Non-distributable reserves | 130/1 | €21,817 | €21,817 | = | 0.0% |
| Legal reserve | 130 | €21,817 | €21,817 | = | 0.0% |
| Distributable reserves | 133 | €383,360 | €383,360 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€515,246 | -€1,006,349 | -€491,103 | -95.3% |
| Investment grants | 15 | €8,569 | €6,936 | -€1,633 | -19.1% |
| Provisions and deferred taxes | 16 | €13,550 | - | -€13,550 | |
| Provisions for liabilities and charges | 160/5 | €13,550 | - | -€13,550 | |
| Other liabilities and charges | 164/5 | €13,550 | - | -€13,550 | |
| Amounts payable | 17/49 | €767,534 | €975,898 | +€208,364 | +27.1% |
| Amounts payable after more than one year | 17 | €533,512 | €692,368 | +€158,856 | +29.8% |
| Financial debts | 170/4 | €150,340 | €89,193 | -€61,147 | -40.7% |
| Leasing and similar obligations | 172 | €150,340 | €89,193 | -€61,147 | -40.7% |
| Other amounts payable | 178/9 | €383,172 | €603,175 | +€220,003 | +57.4% |
| Amounts payable within one year | 42/48 | €229,022 | €279,530 | +€50,508 | +22.1% |
| Current portion of amounts payable after more than one year | 42 | €75,473 | €57,684 | -€17,789 | -23.6% |
| Trade debts | 44 | €17,886 | €113,199 | +€95,313 | +533% |
| Suppliers | 440/4 | €17,886 | €113,199 | +€95,313 | +533% |
| Taxes, remuneration and social security | 45 | €135,663 | €108,647 | -€27,016 | -19.9% |
| Taxes | 450/3 | €6,164 | €5,019 | -€1,145 | -18.6% |
| Remuneration and social security | 454/9 | €129,499 | €103,628 | -€25,871 | -20.0% |
| Accrued charges and deferred income | 492/3 | €5,000 | €4,000 | -€1,000 | -20.0% |
| Operating income | 70/76A | €2,744,817 | €1,522,773 | -€1.2m | -44.5% |
| Turnover | 70 | €2,236,103 | €1,441,618 | -€794,485 | -35.5% |
| Other operating income | 74 | €49,900 | €45,222 | -€4,678 | -9.4% |
| Non-recurring operating income | 76A | €458,814 | €35,933 | -€422,881 | -92.2% |
| Operating charges | 60/66A | €2,634,713 | €2,004,640 | -€630,073 | -23.9% |
| Goods for resale, raw materials and consumables | 60 | €17,711 | €8,737 | -€8,974 | -50.7% |
| Purchases | 600/8 | €7,163 | €3,237 | -€3,926 | -54.8% |
| Change in stocks: decrease (increase) | 609 | €10,548 | €5,500 | -€5,048 | -47.9% |
| Services and other goods | 61 | €1,023,729 | €531,364 | -€492,365 | -48.1% |
| Remuneration, social security and pensions | 62 | €1,427,106 | €1,125,275 | -€301,831 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €146,769 | €155,778 | +€9,009 | +6.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €109,789 | +€109,789 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€152,181 | -€13,549 | +€138,632 | +91.1% |
| Other operating charges | 640/8 | €66,308 | €80,741 | +€14,433 | +21.8% |
| Non-recurring operating charges | 66A | €105,271 | €6,505 | -€98,766 | -93.8% |
| Operating profit (loss) | 9901 | €110,104 | -€481,867 | -€591,971 | |
| Financial income | 75/76B | €10,638 | €11,642 | +€1,004 | +9.4% |
| Recurring financial income | 75 | €10,638 | €11,642 | +€1,004 | +9.4% |
| Other financial income | 752/9 | €10,638 | €11,642 | +€1,004 | +9.4% |
| Financial charges | 65/66B | €16,697 | €20,702 | +€4,005 | +24.0% |
| Recurring financial charges | 65 | €16,697 | €20,702 | +€4,005 | +24.0% |
| Debt charges | 650 | €15,404 | €19,110 | +€3,706 | +24.1% |
| Other financial charges | 652/9 | €1,293 | €1,592 | +€299 | +23.1% |
| Profit (loss) for the period before taxes | 9903 | €104,045 | -€490,927 | -€594,972 | |
| Income taxes | 67/77 | €152 | €176 | +€24 | +15.8% |
| Taxes | 670/3 | €152 | €176 | +€24 | +15.8% |
| Profit (loss) for the period | 9904 | €103,893 | -€491,103 | -€594,996 | |
| Profit (loss) for the period to be appropriated | 9905 | €103,893 | -€491,103 | -€594,996 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.